Exelixis (NASDAQ:EXEL) Reaches New 12-Month High After Analyst Upgrade

by · The Markets Daily

Exelixis, Inc. (NASDAQ:EXEL – Get Free Report) hit a new 52-week high during trading on Wednesday after Truist Financial raised their price target on the stock from $38.00 to $42.00. Truist Financial currently has a buy rating on the stock. Exelixis traded as high as $37.14 and last traded at $37.04, with a volume of 1317363 shares trading hands. The stock had previously closed at $35.65.

A number of other research analysts have also recently weighed in on EXEL. HC Wainwright raised their price objective on shares of Exelixis from $29.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Morgan Stanley boosted their price target on Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Brookline Capital Management began coverage on Exelixis in a research note on Monday, December 23rd. They set a “buy” rating on the stock. Stifel Nicolaus boosted their target price on shares of Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Finally, TD Cowen raised their price target on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.75.

Read Our Latest Stock Report on Exelixis

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Dana Aftab sold 1,162 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the transaction, the executive vice president now owns 498,945 shares of the company’s stock, valued at $15,666,873. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the transaction, the executive vice president now owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. The trade was a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 314,736 shares of company stock worth $10,849,110 in the last ninety days. 2.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Victory Capital Management Inc. lifted its holdings in Exelixis by 15.2% in the second quarter. Victory Capital Management Inc. now owns 116,806 shares of the biotechnology company’s stock worth $2,625,000 after acquiring an additional 15,368 shares during the last quarter. Federated Hermes Inc. boosted its position in Exelixis by 1.0% during the 2nd quarter. Federated Hermes Inc. now owns 227,909 shares of the biotechnology company’s stock valued at $5,121,000 after purchasing an additional 2,333 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Exelixis by 3.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 465,048 shares of the biotechnology company’s stock worth $10,450,000 after buying an additional 14,443 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Exelixis by 7.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock worth $115,434,000 after buying an additional 349,837 shares during the period. Finally, Edgestream Partners L.P. boosted its holdings in shares of Exelixis by 128.6% during the second quarter. Edgestream Partners L.P. now owns 114,785 shares of the biotechnology company’s stock valued at $2,579,000 after acquiring an additional 64,571 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Exelixis Stock Up 3.9 %

The firm’s 50-day moving average price is $34.92 and its 200 day moving average price is $29.08. The firm has a market cap of $10.58 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 0.88 and a beta of 0.53.

Exelixis (NASDAQ:EXEL – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. Exelixis’s revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 earnings per share. On average, equities analysts predict that Exelixis, Inc. will post 1.69 earnings per share for the current year.

Exelixis Company Profile

(Get Free Report)

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.

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